The bonuses, which will be paid to all full and part-time employees, are expected to cost a total of about $70 million, the company said.

Southwest Airlines is giving its more than 50,000 employees a one-time $1,000 cash bonus, the company said Tuesday, joining the likes of American Airlines and AT&T in doling out a post-tax reform payment to workers.

CEO Gary Kelly said the legislation passed in late December — which cuts the corporate tax rate from 35 percent to 21 percent, among other changes — will “result in meaningful corporate income tax reform” for Southwest and the broader transportation sector.

In a federal regulatory filing, Southwest said it expects to record a non-cash credit of $1 billion to $1.5 billion in the fourth quarter of 2017 due to the tax legislation.

The bonuses, which will be paid to all full- and part-time employees, are expected to cost about $70 million, the company said.

“We are excited about the savings and additional capital, which we intend to put to work in several forms,” Kelly said in a prepared statement.

Southwest also announced plans to purchase 40 Boeing 737 Max 8 planes that it held options for, with 15 aircraft to be delivered in 2019 and 25 in 2020. The planes have a total list price of almost $4.5 billion, according to Bloomberg News, although discounts are typically negotiated for large aircraft purchase orders.

As part of its fleet planning, Southwest pushed back delivery of 23 of the smaller Boeing 737 Max 7 aircraft, which were set to begin arriving in 2019 and instead will be delayed until 2023.

The final piece of Southwest’s tax legislation maneuvering was a commitment to donate $5 million to charitable causes throughout 2018.

Southwest's announcement came the same day American Airlines announced it would give its roughly 127,000 employees, including those at wholly-owned regional airlines, a $1,000 bonus. AT&T is also giving employees a one-time $1,000 bonus attributed to the tax changes.